Haiti Disaster sparks Destination Brides to Seek Wedding Insurance

This past week’s unforeseen catastrophic event in Haiti inspired me to want to enlighten the many couples planning weddings around the world, that there is Wedding Insurance available to help you with unexpected events. There are several factors outside of your control that can greatly affect or even postpone your wedding day. Extreme weather or other natural disasters, unexpected military deployment, lost rings, family illness, and stolen wedding gifts are just a few of the items that can be covered in your wedding insurance policy.  Below is information as to what wedding insurance can do for you and how it can give you the peace of mind that you so deserve on your special day.

What is wedding Insurance and what is the cost?

By Purchasing wedding insurance it protects the couple’s investment from conditions beyond their control and it reimburses expenses invested into your wedding planning. The cost of wedding insurance commonly begins with a one-time premium of less than $195, with a number of the coverage options. A basic insurance policy that covers loss of attire, video, photo, gifts, deposits and rings, usually costs anywhere between $195 to $575, depending on the amount of coverage you want. General liability insurance, which covers up to $1,000,000 for accidents, costs around $245. Naturally the higher limits and additional coverage options are available with only average increases in the premium. The sooner you purchase your wedding insurance the better. Don’t wait until the last minute as some insurance carriers have restrictions as to when the insurance can be purchased.

Here are Two Types of Wedding Insurances that are currently offered by wedding insurance companies:

Wedding Liability Insurance

Most venues and resorts require the couple to obtain a liability insurance policy that will protect not only the bride and groom, but the reception or ceremony site as well. Liability insurance protects against damages to property or injuries to attendees or contracted vendors. Alcohol hosting should be covered as well. A good wedding consultant will carry general liability insurance that is usually good for $1,000,000. Ask your consultant if they carry wedding liability insurance and ask them to place you as additionally insured for your wedding day.

Wedding Cancellation and Postponement Insurance

In the event of a cancellation or postponement, the loss from non-refundable deposits can be overwhelming. Wedding cancellation or postponement insurance protects deposits and can even cover non-recoverable expenses equivalent to the total expense of the wedding. This policy can also cover lost or stolen wedding items.

Please note that no insurance company will cover a simple change of mind.

Most insurers make combination offers that provide all types of coverage in one policy. Cost is based on the total wedding budget expense. A wedding that is expected to cost about $30,000 would require a policy that would cost about $500 to cover all insurance needs.

A good example happened recently to one of our clients. The Mother of the Bride franticly contacted us two weeks prior to the wedding to say that they were in dire need for a wedding planner to assist in relocation of the event. The couple had contracted a local mansion that came with a package that included floral, décor, minister, DJ, sleeping rooms and catering. Come to find out the home went into foreclosure and the landlord never notified the couple. My first question to the client was, “Do you have wedding insurance?” The mother replied “No” and asked “what is that?” I shared the information that is included in this article and she was amazed to find out that something like this was available to her the entire time throughout the wedding planning process. The couple was happily wed and the wedding went off without a hitch though, the Mother of the Bride is still battling to get her deposits back from the property manager and owner. Think twice before disaster strikes!

What could possibly go wrong?

• The musicians fail to show.
• The wedding presents are stolen.
• The honeymoon accommodations are lost.
• Someone gets hurt at the event.
• A family emergency requires wedding day cancellation or postponement.
• The wedding cake is dropped.
• The rings are lost.
• The store or seamstress loses the bridal gown.
• The tuxedos are double rented.
• The limousine has a flat tire or breaks down.
• The flowers wilt in a broken cooler.
• The caterers forget to order the champagne.
• The photographer’s camera is destroyed with the wedding photos inside.
• The wedding or reception venue goes out of business.
• The wedding favors don’t arrive.

The most effective wedding insurance is careful planning. One thing every couple should adopt is “get it in writing.” Time after time a despairing bride can be heard saying, “But they said….” Verbal communication is not the best communication. Create a paper trail and get it all down in writing.

Things to Consider

Every insurance policy and every wedding scenario is different. Be sure to talk to your insurance agent and have him explain the nuts and bolts to you. Have a list of questions ready so you don’t forget anything. You want to make sure you and your beloved understand every detail of your policy.

Here are a few national Wedding Insurance carriers:

www.nasep.org

www.protectmywedding.com

www.onedayevent.com

www.wedsafe.com

After reading this article would you allot for wedding insurance in your budget?

This entry was posted on Monday, January 18th, 2010 at 8:44 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.